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Posts tagged Shareholders.
Posted in Commercial

On September 27, 2016, I blogged about the decision of the Alberta Court of Queen’s Bench blocking approval of an arrangement in Re Marquee Energy Ltd,. and the Alberta Oilsands Inc. In that decision, the Court held that Alberta Oilsands shareholders must be allowed a shareholders vote even though the only company being “arranged” was Marquee Energy Ltd. The appeal of ...

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Posted in Commercial

In general, corporate legislation in Canada provides that if a corporation engages in specific types of transactions, such as an arrangement or amalgamation, shareholders are entitled to vote against the transaction.  If the transaction is nevertheless approved, shareholders can then exercise a right to dissent and be paid fair value for their shares. 

Last month, I ...

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Posted in Commercial

On October 2, 2012, I blogged about court intervention in shareholder proxy contests in British Columbia.  One of the cases referenced was a petition brought by TELUS to quash a meeting of TELUS’s shareholders requisitioned by an American hedge fund, Mason Capital Management LLC (“Mason Capital”).  This meeting was requisitioned in an attempt to block a merger of ...

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Posted in Commercial

2012 has seen a large increase in court applications relating to shareholder proxy contests in British Columbia.  In the face of these increased number of applications, the Supreme Court of British Columbia has shown an increased willingness to intervene to ensure meetings and proxy contests are conducted fairly.

On September 20, 2012, the Court gave oral reasons in ...

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Posted in Commercial

On September 7, 2012, the British Columbia Court of Appeal, sitting as the Yukon Court of Appeal, heard the appeal from the Yukon Supreme Court decision in Matre et al v. Crew Gold Corporation, 2011 YKSC 75.  The Court of Appeal’s eventual decision will address the question of whether beneficial, as opposed to registered, shareholders can exercise dissent rights under ...

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Posted in Commercial

The separate legal personality of the corporation as distinct from its shareholders has been a corner stone of corporate law since the landmark decision of Salomon v. Salomon, [1897] AC 22.  Canadian courts have consistently held that a corporation is a distinct legal entity from its shareholders who are not liable for the acts of the corporation.  However, over the last ...

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